Mattel Sales Sink 19%; Earnings Up Sharply

  • July 17, 2009
Faced with challenging currency exchange rates and few toys tied to hit movies, Mattel says its worldwide sales fell 19% to $898.2 million in the second quarter - a 12% decline in the U.S., and a 26% tumble internationally.

Sales of Barbie products fell 15%, Fisher-Price decreased 13%, and Hot Wheels had a 10% slump: sales at its American Girl division were flat.

Due to aggressive tightly managed expenses, though, the El Segundo, Calif.-based company saw a sharp gain in profits. Net income for the quarter came in at $21.5 million, up from $11.8 million in the second quarter of last year.--Sarah Mahoney

Next story loading loading..